Home address: 5026 Lymbar Dr
2021 Tax Assessment: $371,685
Recent Sales Price: $208,000 – Over-taxed by 79%
While most Texas homeowners pay extra property taxes, there are several simple steps you can take to limit your tax bill. Either comparable sales or condition issues at your home are useful for a market value appeal of property taxes. An unequal appraisal is a powerful tool to reduce property taxes, but many homeowners are not aware of it and don’t use it. Winning a property tax protest is easy. Getting property owners to appeal is hard. Only 10% of Texan homeowners appeal their property taxes.
Many owners intended to appeal but the May 15th date slipped by with no appeal. If you want to appeal and it is slipping your mind, consider a consultant. Appraisal districts use the cost approach to value houses. It is generally considered the least reliable method of appraisal. Tax protests are resolved at the informal hearing since the result is within a “reasonable range of value”. An appraisal is not an exact science and valuations are only an educated opinion of value, not a fact. Protest your property taxes on market value and unequal appraisal by May 15th annually. Protest even if you do not receive a value notice.
